BTC capitalization jumps over $1 trillion, and the Fed notes about the threat in further cryptocurrency development

The Fed doesn’t rule out the threat to the dollar from crypto assets

The Federal Reserve System expert commission has posted an article on the international role of the dollar. For decades this currency has been dominating the global financial system, so the situation will not change shortly.

But in a long-term period, the yuan, euro or even cryptocurrencies could threaten the old financial paradigm. Such a situation is highly likely due to digital assets’ impact, which could even change the payment system. Nonetheless, the experts believe that to make this idea true, and there must be large scale political and economic changes.

Bitcoin market cap surpasses $1 trillion for the first time since May 2021

Recently BTC has jumped over $ 50'000, regain its position after a giant dump. Capitalization at that time was close to the level of $1 trillion but stopped at $989 billion. Then the price fell back to $ 40'000.

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